Clearing Members

Clearing Member means a member of the Clearing Corporation who clears and settles deals through the Clearing Corporation. The Clearing Member clears and settles deals for a segment in a manner and mode and subject to such terms and conditions and procedures prescribed for them. Further, a Clearing Member may clear and settle deals either on their own account or on behalf of their clients subject to the terms and conditions prescribed by the Clearing Corporation.

Self Clearing Member (SCM): This category of membership entitles a member to execute trades and to clear and settle the trades executed on his own account as well as on account of his clients.

Clearing Member (CM): This category of membership entitles a member to execute trades on his own account as well as on account of his clients and to clear and settle trades executed by themselves as well as by other trading members who choose to use clearing services of the member.

Professional Clearing Member (PCM): 

Clearing Corporation admits a special category of member's namely professional clearing members. Professional Clearing Member (PCM) are clearing members who are not trading members. They are typically banks, custodians etc. who clear and settle trades executed for their clients (individuals, institutions etc.).

In such an event, the functions and responsibilities of the PCM would be similar to Custodians. PCMs may also undertake clearing and settlement responsibility for trading members. In such a case, the PCM would settle the trades carried out by the trading members connected to them. The onus for settling the trade would be thus on the PCM and not the trading member.

This category of membership entitles a member to clear and settle trades of such members of the Exchange who choose to clear and settle their trades through this member.

Click here to check the list of Clearing Members registered with NSE Clearing Limited.pdf